Tony Yates

@t0nyyates.bsky.social

Economist. Ex Prof / central banker. Macro, politics, money, central banks, finance, Brexit, covid, AI, climbing, MUFC, Blueskyism.

The main point of a holiday is so you can sit in another lounge watching your kid watch on TV a cartoon scientist transplant his brain into a pickle to avoid family therapy.

On forward guidance: because policy takes time to have its full effect, and because the things buffetting inflation and unemployment also have effects strung out over many periods, monetary policy is not a single interest rate but a view about interest rates over the future.

Fraser Nelson reckons Rod Liddle was “the greatest satirist since Swift” while Michael Gove is comparing him to not just Swift but Orwell. Amazing the comparisons you can get if you’ll pump out exactly the racist opinions even they are too squeamish to commit to print.

Good piece. A thread on some comments I made yesterday on Times Radio. Two things can be true at the same time: 1. It’s very bad to have 60,000 people storm a border, and 70+ deaths. 2. European leaders' responses were opportunistic and disproportionate, and made incidents like this more likely.

Anne Applebaum@anneapplebaum.wsocial.eu · 3d ago

Vance, Farage and Weidel posted fear-mongering messages about a Spanish migrant crisis that weren't true. They haven't retracted them. www.theatlantic.com/ideas/2026/0...

It is quite strange how little the actual public inquiry we're having into the UK's Covid response - the one that's publishing in-depth reports every few months - factors into the "you're not even allowed to ask these questions" complaints. We are, in fact, officially asking these questions!